On June 23, 2012, the federal government published a proposed amendment to the Canada Pension Plan Investment Board Regulations which would repeal section 12 of the Regulations. That section establishes quantitative investment limits in respect of Canadian resource and real properties. Repeal of this section would align the Regulations with the Pension Benefits Standards Regulation,…
Tag: Regulations
Ontario Files Significant Regulations under the Pension Benefits Act
On June 26, 2012, the Ontario government filed a number of amendments to regulations made under the Pension Benefits Act (“PBA”). Specifically, the government filed the much anticipated O. Reg. 178/12 amending General Regulation 909 to support numerous pension reforms. As reported in prior posts and our FTR Now of May 9, 2012, “Implementation of…
Ontario Files BPS Solvency Funding Relief, JSPP Funding Rules and Filing of Actuarial Valuations Regulation
On June 22, 2012, the Ontario government filed O. Reg 164/12 made under the Pension Benefits Act, amending Regulation 909 (General). Generally speaking, plan administrators are required to file actuarial valuations within nine months from the date of the valuation. O. Reg 164/12 provides an extension to the window for filing actuarial valuations in accordance…
OHSA Designated Substances, Exposure Limits Regulations Amended
On June 12, 2012, the Ontario government filed two regulations under the Occupational Health and Safety Act. O. Reg. 148/12 (Designated Substances) adds “or to a physician designated by the Provincial Physician” to subsections 30(2) and 31(2) of O. Reg. 490/09, effective immediately. It further substitutes a new Table 1 (Exposure Limits) prescribing Agents and…
New WSIB Insurance Fund, Temporary Indexing Regulations Filed
On June 5, 2012, the Ontario government filed O. Reg 141/12 “Insurance Fund,” made under the Workplace Safety and Insurance Act (“Act”). In part, the regulation requires the Workplace Safety and Insurance Board (“WSIB”) to ensure the insurance fund meets the following sufficiency ratios by the following dates: 60 per cent on or before December…
Ontario Establishes New Class Size Limits
On June 4, 2012, the Ontario government filed a new class size regulation under the Education Act. O. Reg. 132/12 (Class Size) defines a number of terms, including: “class size” in relation to elementary and secondary schools; co-operative education class; course; cycle; instructional day; part-time; and transfer course. As outlined in the Ministry of Education’s…
Ontario Proposes Plan Administrator Disclosure Obligations, Proclamation Dates
On May 14, 2012, the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”), and further proposed a proclamation date of July 1, 2012 in respect of certain amendments to the Act. The regulatory amendments would specifically outline the information plan administrators are required to disclose, including: “prescribed…
Ontario Releases Proposed Grow-In Benefit Regulations
Further to the release of pension reform proposals, on Thursday, May 3, 2012 the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”). As anticipated, the draft regulations prescribe additional “activating events” or circumstances that would trigger grow-in benefits for the purpose of s. 74(1), paragraph 3 of…
Draft Regulations to the Pension Benefits Act Released
On April 30, 2012, the Ontario government released a draft regulation amending Regulation 909 (General) made under the Pension Benefits Act (“Act”) for commentary by June 1, 2012. Among other things, the proposed regulation would: enable the proclamation of the “retired member” provisions in the Act; implement immediate vesting for plan members and enable the…
Long-Awaited Grow-In, Regulatory Pension Reforms Released
On Monday, April 30, 2012, the Ontario Ministry of Finance published long-awaited, proposed regulatory amendments under the Pension Benefits Act (“Act”), including additional, proposed prescribed “activating events” for the purposes of grow-in benefits that come into force on July 1, 2012, for public commentary.